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The Five-year Decline in Earnings Might Be Taking Its Toll on Minerals Technologies (NYSE:MTX) Shareholders as Stock Falls 3.3% Over the Past Week

The Five-year Decline in Earnings Might Be Taking Its Toll on Minerals Technologies (NYSE:MTX) Shareholders as Stock Falls 3.3% Over the Past Week

五年來收益下降可能已經對礦物技術(紐交所:MTX)的股東產生影響,因爲股價在過去一週下跌了3.3%
Simply Wall St ·  10/25 19:53

If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the Minerals Technologies Inc. (NYSE:MTX) share price is up 58% in the last five years, that's less than the market return. Some buyers are laughing, though, with an increase of 53% in the last year.

如果您在很多年內購買並持有股票,您希望能夠獲利。此外,您通常希望看到股價上漲速度快於市場。不幸的是,對於股東來說,儘管Minerals Technologies Inc.(紐交所:MTX)的股價在過去五年上漲了58%,但這低於市場回報。不過,在過去一年中,一些買家確實大笑了,股價增長了53%。

While this past week has detracted from the company's five-year return, let's look at the recent trends of the underlying business and see if the gains have been in alignment.

雖然過去的一週削弱了公司的五年回報,但讓我們看看業務的最近趨勢,並查看收益是否已對齊。

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

用本傑明·格雷厄姆的話來說:「短期市場是一臺投票機,但長期市場是一臺稱重機」。檢查市場情緒如何隨時間推移變化的一種方式是查看公司股價和每股收益(EPS)之間的相互作用。

During five years of share price growth, Minerals Technologies actually saw its EPS drop 8.8% per year.

在五年股價增長期間,Minerals Technologies 每股收益實際上下降了每年8.8%。

Essentially, it doesn't seem likely that investors are focused on EPS. Because earnings per share don't seem to match up with the share price, we'll take a look at other metrics instead.

基本上,投資者似乎並未關注每股收益。因爲每股收益似乎與股價不匹配,所以我們將查看其他指標。

We doubt the modest 0.6% dividend yield is attracting many buyers to the stock. In contrast revenue growth of 6.0% per year is probably viewed as evidence that Minerals Technologies is growing, a real positive. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment.

我們懷疑微薄的0.6%分紅派息率是否吸引了很多股票買家。相比之下,每年6.0%的營業收入增長可能被視爲minerals technologies正在增長的證據,這是一個真正的積極因素。很有可能管理層目前將營收增長置於每股收益增長之上。

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

下面的圖表顯示了收益和營收隨時間的變化情況(通過單擊圖像揭示確切的值)。

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NYSE:MTX Earnings and Revenue Growth October 25th 2024
紐交所:MTX 2024年10月25日的盈利和營業收入增長

If you are thinking of buying or selling Minerals Technologies stock, you should check out this FREE detailed report on its balance sheet.

如果您正在考慮購買或賣出minerals technologies股票,您應該查看這份免費詳細報告以了解其資產負債表。

What About Dividends?

那麼分紅怎麼樣呢?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Minerals Technologies, it has a TSR of 61% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!

考慮到任何給定股票的股東總回報以及股價回報是很重要的。而股價回報僅反映了股價的波動,TSR則包括了分紅的價值(假設它們被再投資)以及任何打折的增發或資產分拆的好處。所以對於支付慷慨分紅的公司,TSR通常遠高於股價回報。就minerals technologies而言,過去5年的TSR爲61%。這超過了我們之前提到的股價回報。毫無疑問,分紅支付在很大程度上解釋了這種分歧!

A Different Perspective

不同的觀點

We're pleased to report that Minerals Technologies shareholders have received a total shareholder return of 54% over one year. And that does include the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 10% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Minerals Technologies , and understanding them should be part of your investment process.

我們很高興地報告,礦物科技的股東在一年內獲得了總股東回報率爲54%。這當然包括了分紅派息。由於一年的TSR優於五年的TSR(後者爲每年10%),似乎股票的表現近來有所改喀。持樂觀態度的人可能會將TSR近期的改善視爲業務本身隨時間改善的跡象。我發現將股價作爲業務表現的替代指標在長期內觀察非常有趣。但爲了真正獲得洞察力,我們還需要考慮其他信息。比如,投資風險這個永恒的威脅。我們已經找出礦物科技的1個警告信號,了解它們應該成爲您投資流程的一部分。

For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket.

對於那些喜歡尋找獲勝投資的人來說,最近有內部購買的低估公司免費列表可能是一個很好的選擇。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.

請注意,本文所引述的市場回報反映了目前在美國交易所上市的股票的市場加權平均回報。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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